SOLUTIONS 30

New acquisition in Germany and the signing of a €70 million, 3-year contract

Solutions 30, Europe's leading provider of Solutions for New Technologies, announces it has acquired a 100% stake in Vodafone Kabel Deutschland Field Services GmbH (VKDFS). A Vodafone subsidiary located in Nuremberg, VKDFS will be consolidated in Solutions 30's accounts as of 1^St July 2017. This acquisition is accompanied by the signing of a €70 million, 3-year contract with the Vodafone group in Germany.

Even stronger presence in Germany

The acquisition of VKDFS strengthens Solutions 30's position as the leading European partner for last-mile solutions. Located in Nuremberg, VKDFS will be the Solutions 30 Group's base for development in Bavaria, the second wealthiest region in Germany. Solutions 30 can now draw on a technical and sales force of 400 people in Germany, a powerful driver for boosting growth across the globe.

The first major contract in Germany 

VKDFS includes Vodafone's support and assistance services, involved in the roll-out of high-speed internet in Germany. The company achieved turnover of €23 million in 2016, with a headcount of 50 people. As part of this acquisition, Solutions 30 signed a 3-year contract with Vodafone of €23 million per year, i.e. €70 million in total.

Gianbeppi Fortis, Chairman of the Solutions 30 Executive Board, commented: "Thanks to this acquisition, we are strengthening our position as the unifier of a market that is still very fragmented in Germany. This first operation in Bavaria was a strategic decision for the Group as it is a particularly fast-growing region, which borders Baden-Württemberg where we are already present."

Karim Rachedi, Chief Operating Officer of Solutions 30, also commented: "This geographical proximity will facilitate the integration of the VKDFS teams within the Group, in order to offer new potential for development."

External growth policy continued

The Group is looking to continue strengthening its position as European leader and is continually seeking any external growth opportunities, particularly in Germany, France and Italy. To this end, Solutions 30 decided to form a bank consortium and restructure its debt:

• Establishment of a credit line of €35 million over 6 years, to support its offensive external growth policy;
• Renegotiation of the medium-long term debt for an amount of €30 million over 6 years, and the short-term debt for an amount of €10 million, confirmed for 5 years. 

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